News
Schachter quits Caxton for Sac Capital Advisors
Barry Schachter, a prominent name in the financial engineering industry, has left his position as head of enterprise-wide risk management at hedge fund Caxton Corporation to work for rival Sac Capital Advisors.
BNP Paribas closes eighth Japan synthetic CDO via Serena Finance
French bank BNP Paribas has closed an arbitrage synthetic collateralised debt obligation (CDO) referenced to a portfolio of credit default swaps worth a total notional amount of ¥144 billion ($1.16 billion), according to Stéphane Delacote, the bank’s…
Credit Agricole in risk and derivatives hiring spree
French bank Credit Agricole Indosuez has added a number of hires to its fixed-income and risk groups, following the restructuring of its fixed-income department in early September. Marc Romano and Vincent Fleury join the French bank as co-heads of its…
Dynegy exits trading and cuts jobs
Dynegy became the latest big-name US energy company to confirm its withdrawal from the worldwide energy-trading arena in October, as attempts to find a partner for its trading business failed.
Deutsche Bank reveals role in 9/11 liquidity facility
Michael Reuther, global head of funding at Deutsche Bank, has revealed today how the European Central Bank and the Federal Reserve Bank of New York created an emergency €50 billion ‘synthetic’ liquidity facility in the wake of last year’s World Trade…
BIS seeks replacement for Crockett
BASEL - The Bank for International Settlements (BIS), the so-called central bankers' central bank, said in September it had set up a committee to help find a replacement for BIS general manager Andrew Crockett who leaves the bank at the end of March next…
Macquarie buys Merrill's Australian instalment warrants business
Australia's Macquarie Bank has purchased the instalment warrants business of Merrill Lynch following the restructuring of the US bank's Australian operations.
Equities rally brings in cost of US and European debt protection
A strong rebound in world equity markets during the early part of this week has caused the cost of credit protection on US and European institutions to markedly narrow. The contraction in credit spreads this week nearly matched the widening seen last…
ING hires head of Asian hedge fund sales
ING Financial Markets, a unit of ING Group, has hired Daren Riley as global head of Asian hedge fund sales. Riley took up his new position last week.
Reuters bullish on risk systems sales
UK information and technology services provider Reuters believes the outlook for its treasury systems sales is positive, despite the overall downturn in the financial markets.
Merrill ousts European debt derivatives head Chattwell
Merrill Lynch has ousted its European head of fixed income and foreign exchange derivatives, Kevin Chattwell, as part of the US investment bank’s efforts to flatten its senior management structure.
OpVantage releases latest OpVar software
OpVantage has released an updated version of its OpVar operational risk management software.
Iafe due to name Ingersoll as its financial engineer of the year
Jon Ingersoll is due to be named this year’s financial engineer of the year by the International Association of Financial Engineers (Iafe) within the next few days, according to a number of industry sources. Ingersoll is the Adrian C Israel professor of…
BofA develops new credit risk model
Bank of America is developing a sophisticated model that uses derivatives data to help asset managers get a better handle on credit risk within their portfolios.
Regulators call on banks to focus on cross-border e-banking risks
Banks need to integrate cross-border electronic banking risks into their overall risk management framework, the Basel Committee said in a paper released today.
CME to list futures on S&P SmallCap 600
The Chicago Mercantile Exchange (CME) will start to trade futures contracts on rating agency Standard & Poor’s (S&P) SmallCap 600 stock index from November 11.
International banks step-up German fixed-income derivatives coverage
Deregulation of the German insurance market is attracting the world's top investment banks to expand fixed-income derivatives operations in Frankfurt.
JP Morgan Chase snatches Asia Risk’s house of the year award
JP Morgan Chase has won RiskNews ' sister publication Asia Risk 's derivatives house of the year award, while also picking up its prize for credit derivatives house of the year – an accolade it has held since the magazine began publishing its awards…
Kiodex releases upgrade of Risk Workbench system
Kiodex, the US risk management technology company, has released an upgraded version of its Kiodex Risk Workbench platform, with enhanced back-office functionality and counterparty credit exposure information.
Imagine shifts towards buy side
New York-based Imagine Software is adding the buy side to its business portfolio. Ray Krastins, Imagine’s director of application service provision (ASP) sales and marketing, told sister publication Buy Side IT that demand for the large enterprise-type…
Prebon Yamane snares rival's forwards brokers
Inter-dealer broker Prebon Marshall Yamane in London has hired a team of three currency forwards brokers from rival RP Martins.
Canadian pensions' use of derivatives rises
Fifty-two percent of Canadian pension funds now use derivatives as part of their investment strategies, up from 49% a year ago and 38% four years ago, according to a survey of 264 funds by Greenwich Associates, a Greenwich, Connecticut-based consulting…
CitiFx risk advisory group names new member
Jessica James has joined the investor team of CitiFX in London's risk advisory group. She reports to Laurent Desbois, head of risk advisory.
Basel to adopt flexible approach to point-in-time and business cycle ratings
NEW YORK - The Basel Committee on Banking Supervision, the architect of the Basel II capital Accord, will adopt a flexible approach to point-in-time and business cycle credit ratings used by banks when reviewing advanced internal-rating based approaches.